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Interim Management Statement

9 Nov 2016 09:10

RNS Number : 7371O
Hongkong Land Hldgs Ltd
09 November 2016
 

To: Business Editor For immediate release

 

The following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.

 HONGKONG LAND HOLDINGS LIMITED

Interim Management Statement

 

9th November 2016 - Hongkong Land Holdings Limited has today issued an Interim Management Statement for the third quarter of 2016.

 

In Hong Kong, the office leasing market continues to benefit from tight supply, with rental reversions remaining positive. Vacancy in the Group's Central office portfolio at 30th September 2016 was 3.5%, compared with 3.1% at the end of June 2016 due to lease timings. Vacancy is expected to decline before the end of the year as tenants take up space already committed. The Group's Central retail portfolio remains fully occupied with largely positive rental reversions.  In Singapore, vacancy in the Group's office portfolio at the end of September was 0.8% compared with 1.0% at the end of June. Rental reversions have been negative with a projected surplus of supply in the office leasing market.

 

In the residential sector, the Group's key markets in mainland China continue to improve. The Group's attributable interest in contracted residential sales in mainland China in the three months to 30th September 2016 was US$222 million, compared to US$141 million in the same quarter last year, while the contracted sales for the nine months to 30th September 2016 were US$654 million compared with US$469 million in the same period last year.

 

In Singapore, residential market sentiment remains subdued. The fully pre-sold J Gateway project remains on target for completion by the end of 2016. Pre-sales continue at the LakeVille and Sol Acres projects, which are scheduled for completion in 2017 and 2018, respectively. At the Lake Grande project, due for completion in 2019, pre-sales commenced in July with encouraging results.

 

The Group's balance sheet remains strong with net debt at 30th September 2016, marginally lower than at the half year.

 

Hongkong Land is a listed leading property investment, management and development group. The Group owns and manages almost 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore. Its Hong Kong Central portfolio represents some 450,000 sq. m. of prime property. It has a further 165,000 sq. m. of prestigious office space in Singapore mainly held through joint ventures, and a 50% interest in a leading office complex in Central Jakarta. The Group also has a number of high quality residential and mixed-use projects under development in cities across Greater China and Southeast Asia, including a luxury retail centre at Wangfujing in Beijing. In Singapore, its subsidiary, MCL Land, is a well-established residential developer. Hongkong Land Holdings Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. The Group's assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.

 

- end -

 

For further information, please contact:

 

Hongkong Land Limited

Robert Wong (852) 2842 8428

Simon Dixon (852) 2842 8101

 

Brunswick Group Limited

Annabel Arthur (852) 3512 5075

 

This and other Group announcements can be accessed through the internet at 'www.hkland.com'.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DOCGMMGMLLRGVZG
Date   Source Headline
4th Jul 200810:21 amRNSNotice of 2008 Half-Yearly Re
23rd Jun 200811:53 amRNSBlocklisting Interim Review
19th Jun 200811:37 amRNSDirectorate Change
4th Jun 200811:36 amRNSBermuda Takeover Code
9th May 200810:13 amRNSDirector Declaration
7th May 20085:14 pmRNSAGM Statement
7th May 20085:08 pmRNSResult of AGM
7th May 200812:42 pmRNSInterim Management Statement
2nd May 200810:22 amRNSAnnual Information Update
30th Apr 200810:20 amRNSDividend
29th Apr 200810:40 amRNSMCL Land Q1 Results
11th Apr 200810:25 amRNSAnnual Report & Notice of AGM
19th Mar 200811:56 amRNSDirector/PDMR Shareholding
10th Mar 200811:03 amRNSDirector Declaration
7th Mar 200811:03 amRNSDirector/PDMR Shareholding
6th Mar 20089:05 amRNSFinal Results
29th Feb 20089:30 amRNSMCL Preliminary Results
11th Feb 20089:40 amRNSNotice of Results
24th Dec 20077:00 amRNSBlocklisting Interim Review
10th Oct 200710:42 amRNSDividend
14th Sep 200711:17 amRNSDirector Declaration
5th Sep 200710:19 amRNSInterim Report 2007
7th Aug 200710:05 amRNSInterim Results
20th Jul 200711:21 amRNSBermuda Takeover Code
17th Jul 200710:51 amRNSNotice of Results
22nd Jun 200710:15 amRNSBlocklisting Interim Review
17th May 200710:47 amRNSDirector Declaration
9th May 20075:01 pmRNSResult of AGM
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2nd May 200711:34 amRNSDividend
2nd May 200711:31 amRNSAnnual Information Update
20th Apr 200710:32 amRNSHolding(s) in Company
13th Apr 200710:20 amRNSAnnual Report & Notice of AGM
2nd Apr 200712:04 pmRNSDirector Declaration
6th Mar 20079:05 amRNSFinal Results
9th Feb 20079:18 amRNSNotice of Results
29th Dec 20069:26 amRNSVoting Rights and Capital
22nd Dec 20069:06 amRNSBlocklisting Interim Review
20th Dec 20069:49 amRNSHolding(s) in Company
20th Dec 20069:47 amRNSHolding(s) in Company
8th Nov 20069:25 amRNSDividend
6th Oct 200610:13 amRNSDirector Declaration
3rd Oct 200610:05 amRNSDirectorate Change
17th Aug 200610:10 amRNSInterim Report 2006
27th Jul 200610:05 amRNSInterim Results
22nd Jun 200610:09 amRNSBlocklisting Interim Review
15th Jun 20067:05 amRNSDirector Declaration
15th Jun 20067:00 amRNSDirectorate Change
14th Jun 20065:39 pmRNSResult of AGM
14th Jun 20065:29 pmRNSResult of AGM

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